For integrated circuits (ICs), supply voltage (Vdd) and threshold voltage (Vth) both strongly affect the power consumption and performance (e.g., ability to meet timing requirements) of the circuit. Traditionally, supply voltage (Vdd) and threshold voltage (Vth) are fixed values that are set by the design/manufacturing process. In recent years, it has become common to adjust the supply voltage (Vdd) through programmable regulators and to adjust the threshold voltage (Vth) through back biasing transistors. While supply voltages (Vdd) and threshold voltages (Vth) are capable of being adjusted, methods for identifying optimal supply voltages (Vdd) and optimal threshold voltages (Vth) for power consumption and performance are largely independent processes. These approaches allow supply voltages and threshold voltages to be adjusted in order to increase performance characteristics at the cost of consuming more power or vice versa.